ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Finance

Shinhan Financial Group Co., Ltd.

Company Background

Shinhan Financial Group is a South Korean financial holding company engaged in the management of subsidiaries, including commercial banking unit Shinhan Bank, regional bank Jeju Bank, credit card company Shinhan Card, securities unit Shinhan Investment and Shinhan Life Insurance. Shinhan Financial, one of the country's four biggest financial groups, has a capital and business tie-up with French bank BNP Paribas, a major shareholder of the Korean group.

Shinhan Bank was founded in 1982 with capital from Korean residents in Japan. In 2001, it formed a holding company, Shinhan Financial Group. The group has expanded by acquiring Chohung Bank; LG Card, the predecessor of Shinhan Card; and other financial entities. It now has total assets of over 300 trillion won on a consolidated basis.

In 2001, Shinhan Financial signed a comprehensive partnership agreement with BNP Paribas, under which the two companies set up a joint venture on asset management in South Korea. The group is also strengthening its overseas presence, bolstering its operating bases in Japan, the U.S. and European countries as well as in China, Vietnam and Kazakhstan -- regions in which South Korean companies are operating.

Shinhan Financial has had the largest market capitalization among South Korean financial holding companies for many years and has a reputation as a financially healthy company with solid growth potential. Although South Korea's banking industry is often affected by government policy, it is widely believed that the group's management remains relatively immune from such influence.

Business Summary

Shinhan Financial Group Co., Ltd. engages in the provision of management and financial support services to its subsidiaries. The company was founded on September 1, 2001 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2021 KRWUSD
Revenue26,660.75B23,281.25M
Gross Profit----
Operating income5,734.76B5,007.83M
Income before tax5,130.56B4,480.22M
Net income3,902.86B3,408.14M
EBITDA----
Diluted EPS7,308.056.38
Dividends Per Share1,9601.71
Total Assets648,152.18B545,238.44M
Total liabilities601,948.29B506,370.81M
Total equity43,956.61B36,977.17M
Operating cash flow-4,203.92B-3,671.04M
Currency in KRWCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 21,861.75B 21,630.89B 27,891.54B 27,134.88B 26,660.75B
Gross Profit -- -- -- -- --
Operating income 4,045.25B 4,529.45B 5,086.52B 4,968.42B 5,734.76B
Income before tax 3,797.60B 4,466.61B 4,858.22B 4,594.33B 5,130.56B
Net income 2,901.13B 3,116.36B 3,341.50B 3,329.26B 3,902.86B
EBITDA -- -- -- -- --
Diluted EPS 6,117.96 6,579.48 7,000.16 6,653.96 7,308.05
Dividends Per Share 1,450 1,600 1,850 1,500 1,960
Total Assets 426,307.00B 459,600.51B 552,419.58B 605,234.10B 648,152.18B
Total liabilities 393,027.31B 424,480.83B 512,220.43B 561,057.18B 601,948.29B
Total equity 32,396.30B 34,193.86B 37,446.71B 41,889.63B 43,956.61B
Operating cash flow 10,976.67B 1,366.82B 10,887.33B 7,132.12B -4,203.92B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 19,337.95M 19,655.19M 23,916.92M 22,997.84M 23,281.25M
Gross Profit -- -- -- -- --
Operating income 3,578.25M 4,115.74M 4,361.68M 4,210.92M 5,007.83M
Income before tax 3,359.19M 4,058.64M 4,165.91M 3,893.87M 4,480.22M
Net income 2,566.21M 2,831.72M 2,865.33M 2,821.68M 3,408.14M
EBITDA -- -- -- -- --
Diluted EPS 5.41 5.97 6.00 5.63 6.38
Dividends Per Share 1.28 1.45 1.58 1.27 1.71
Total Assets 398,213.05M 411,902.22M 477,685.67M 557,151.86M 545,238.44M
Total liabilities 367,126.51M 380,427.34M 442,924.85M 516,484.53M 506,370.81M
Total equity 30,261.35M 30,645.15M 32,380.74M 38,561.75M 36,977.17M
Operating cash flow 9,709.48M 1,241.98M 9,335.86M 6,044.74M -3,671.04M

Valuation Measures

Dec 2021
PER5.03
ROA0.62%
ROE9.09%
Operating margin21.51%
Profit margin14.63%

Key executives

  • Chief Executive Officer & Director: Yong-Byoung Cho
  • Chief Operating Officer & Deputy President: In-Kyoon Lee
  • Chief Financial Officer: TaeKyung Lee
  • Managing Director & Chief Compliance Officer: Ho-Min Wang
  • MD, Chief Strategy & Sustainability Officer: Park Sung-Hyun

Shareholders

  • National Pension Service of Korea (8.3%)
  • Shinhan Financial Group Co., Ltd. ESOA (4.9%)
  • The Vanguard Group, Inc. (2.4%)
  • BlackRock Fund Advisors (2.3%)
  • Norges Bank Investment Management (2.0%)
  • Samsung Asset Management Co., Ltd. (1.0%)
  • BlackRock Advisors (UK) Ltd. (0.9%)
  • RBC Global Asset Management (UK) Ltd. (0.8%)
  • Mirae Asset Global Investments Co., Ltd. (0.8%)
  • Dimensional Fund Advisors LP (0.7%)

Contact Details

Related Companies

  • SBJ DNX Co., Ltd.
  • Shinhan AI Co., Ltd.
  • Synergy Shinhan Mezzanine New Tech Business Investment Ass 2
  • Synergy-Shinhan Mezzanine New Technology Investment Fund
  • Shinhan Card 2019-2 Asset Securitisation Specialty Co., Ltd.
  • Shinhan Financial Group (Private Equity)
  • Shinhan Card 2019-1 Asset Securitisation Specialty Co., Ltd.
  • Shinhan Venture Investment
  • Shinhan REITs Management Co. Ltd.
  • Shinhan Serveone 1 Co., Ltd.
  • Shinhan Future's Lab Co. Ltd.
  • Shinhan Card 2017-3 Asset Securitisation Specialty Co Ltd.
  • Shinhan Bank Co. Ltd. (Sydney Branch)
  • Shinhan Bank Co. Ltd. (United Arab Emirates)
  • Shinhan Bank India
  • BNP Paribas Cardif General Insurance Co., Ltd.
  • Shinhan Mortgage First International Ltd.
  • Shinhan Mortgage Second International Ltd.
  • Shinhan Savings Bank
  • Shinhan Financial Investment Co., Ltd.
  • Asia Trust Co., Ltd.
  • Samsung Shinhan Frontier 8th Asset Securitization Specialty Co
  • Work & Joy 2007-1 ABS Specialty Co. Ltd.
  • Work & Joy 2004-1 ABS Specialty Co., Ltd.
  • Shinhan Mortgate 2st Securitization Specialty LLC
  • Shinhan Mortgage 1st Securitization Specialty LLC
  • Shinhan Card 2008 Trust
  • Shinhan 8th Securitization Specialty LLC
  • Neo DWC ABS Specialty Co., Ltd.
  • Neo DWC 3rd ABS Specialty

Competitors

  • Citigroup Inc.
  • Industrial Bank Of Korea
  • Standard Chartered PLC
  • Kakao Corp.
  • NAVER Corp.
  • Samsung Electronics Co., Ltd.
  • Samsung Securities Co., Ltd.
  • KT Corporation
Last Updated on 4 Oct, 2022

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more